Replies to post #106 on Ciena Corp (CIEN)

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Ciena Coverage Initiated at Cowen Securities (CIEN)

Posted by Seth Barnet on May 7th, 2013 // No Comments

Analysts at Cowen Securities initiated coverage on shares of Ciena (NASDAQ: CIEN) in a research report issued to clients and investors on Tuesday, Stock Ratings Network reports. The firm set an "outperform" rating on the stock.

A number of other analysts have also recently weighed in on CIEN. Analysts at Zacks upgraded shares of Ciena from a "neutral" rating to an "outperform" rating in a research note to investors on Thursday, March 28th. They now have a $19.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Ciena from $14.50 to $19.50 in a research note to investors on Tuesday, March 19th. They now have a "hold" rating on the stock. Finally, analysts at Mizuho raised their price target on shares of Ciena from $18.00 to $20.00 in a research note to investors on Friday, March 8th.

One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of "Buy" and an average target price of $19.13.

Shares of Ciena (NASDAQ: CIEN) opened at 15.25 on Tuesday. Ciena has a one year low of $11.45 and a one year high of $18.39. The stock's 50-day moving average is currently $15.99. The company's market cap is $1.548 billion.

Ciena (NASDAQ: CIEN) last posted its quarterly earnings results on Thursday, March 7th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.13) by $0.25. The company had revenue of $453.10 million for the quarter, compared to the consensus estimate of $448.27 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The company's revenue for the quarter was up 8.7% on a year-over-year basis. Analysts expect that Ciena will post $0.43 EPS for the current fiscal year.

Ciena Corporation (NASDAQ: CIEN) is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.
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